As the world digitises, the frequency, severity, and sophistication of cyber incidents are increasing along with the dependency on technology.
Cyber criminals have already demonstrated their ability to disrupt supply chains for businesses around the world and cripple critical infrastructure. Meanwhile, the steadily increasing adoption of cyber insurance means that more companies have protection, but also that cyber risk aggregation is expanding for the insurance industry.
Widespread events vs Limited impact.
Chubb’s approach helps ensure market stability and provide coverage clarity for our policyholders.
Chubb has introduced a flexible and sustainable approach to address growing cyber risks. Learn more about Chubb’s new endorsements for Widespread Events, Neglected Software Vulnerabilities, and Ransomware Encounters.
Chubb anticipates our new solutions will provide distribution partners better long-term stability and growth within the cyber insurance market. This FAQ document answered questions about the marketplace, the impact on brokers and policyholders, and Chubb’s cyber product offering.
All software can include vulnerabilities, which cybercriminals can exploit to access corporate networks and systems. Patching vulnerable software before cybercriminals have the opportunity to exploit it helps prevent losses.